Personal Wealth in 2030
A report issued by NATSEM in June titled "Forecasting wealth in an ageing Australia" projects that average family wealth will increase from $170,200 now to $446,000 in 2030 or a 3.2%pa compound real increase. Looking closer into the distribution of wealth it shows some curious results as follows:
* The percentage of assets held in superanuation actually reduces from 23.1% in 2000 to 20.3% in 2030.
* The percentage held in home equity falls from 48.2% to 42.5%.
* These two falls are made up for by an increase in cash deposit holdings from 9.7% to 19.2%.
* Holdings in Shares are relatively stable at 13.7% and 12.2%.
These results warrant deeper analysis. The expectation would have been a rise in the superannuation percentage with a full 30 years of 9% contribution, however maybe the 15% and 30% tax taken out of normal and surcharged contributions is too much lead weight in the saddle of superannuation savings.
Posted Thursday, 10 July 2003
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